Prices are representative and are for reference only.RMB1=US$0.1489 (Apr 9)

Attention: The publication of Weekly Reports will terminate starting April 15, 2019. Contents of the report will be available on SpoutINFO website (https://spoutinfo.com).

Market analysis

Over the week, prices of CBOT May soy futures rebounded 1%.

Feed consumption remained slow with the population of hog, particularly that of sow, staying low. In view of a favourable negotiation outcome between the US and China, which would result in ample imports of soy, feed producers continued to hold back soymeal purchases.

On average, soymeal prices dropped another 1.2% over the week in review.

Market forecast

Sluggish hog feed demand will continue to weigh down soymeal prices. In the longer term, hog population is likely to shrink due to dwindling sow inventories, hence further curtailing feed and soymeal sales.

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